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Bayes rule and term with expectation

I am reading the paper "Bayesian learning, growth, and pollution" (1999) by Kelly and Kolstad. On page 495, authors give an expression with Bayes rule. As an example, say that there is a ...
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1 vote
1 answer
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Conjugate priors and Bayesian update

In a paper by Cyert and Degroot (1974) (Rational Expectations and Bayesian Analysis, in Journal of Political Economy), authors use Bayesian update for an uncertain parameter. They have a model for ...
optimal control's user avatar